Codelco returns all of its profits to the state and is funded by a mix of capitalization and debt.
Latin America Mining News
Demand for copper is expected to take off by the mid-2020s, but Chile is saddled with mines facing crippling declines in ore grades and a system that allows the bulk of its exploration concessions to sit idle.
Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector.
KGHM's foreign assets have struggled with rising costs, falling copper prices, technical problems and higher-than-expected capital spending.
Reconnaissance exploration identified boulders in streams that contain up to 11.9% copper with 166g/t silver.
The miner has found further mineralization at its Cascabel copper-gold project. Cascabel is believed to have the potential to become one of the largest copper-gold assets ever discovered.
Last year the mine produced 560,000 tonnes of copper, placing it among Chile´s top three producing mines.
The company will retain its dividend policy of paying out at least 35% of underlying net earnings, but will pay out excess funds from the proceeds of sales to shareholders,
The Brazilian mine dam collapses and resultant forced shutdown of some of that country’s iron ore mines had caused a major seaborne supply squeeze across all of the commodity’s types.
Vale SA has opened negotiations with prosecutors and families of victims of the deadly January dam disaster.
The company says that copper recoveries from low grade mineralized material went up following magnetite separation.
Iron ore’s poised to hit $100 a ton, according to Citigroup, which highlighted “very, very low” seaborne cargoes just as data from China may show a pick-up in demand.
Giant mines currently under construction will churn out an additional one million tonnes of copper through 2023, but that won’t be enough.
The company is planning a 1,000-metre drill program at its Alacran copper-gold deposit, part of its San Matias project in Colombia.
A group of minority shareholders in Vale SA has proposed an alternative board member and to change the board election to a cumulative voting system.
The area around Los Bronces copper mine hosts 30% of Chile's copper resources and 10% of the world's.
Due to the conflict, some 8,000 people were being prevented from working at the mining complex.
The full $1.3 billion project cost is being debt financed by Los Pelambres.
The company reported measured and indicated resources for Lindero of 18.9 million tonnes, a 51% increase over earlier estimates.
Many in the industry have emphasized the importance of copper in the quest for a lower carbon economy.
The move is aimed at providing a tool for institutional investors to assess the risk from their holdings in mining companies.
The Japanese trading house is backing Sigma's Grota do Cirilo hard rock lithium project, in the south-eastern province of Minas Gerais.
The ruling promises to further polarize a dispute between MMG and the village of Fuerabamba in Peru’s southern copper belt.
A mix of political populism, higher commodity prices and the expectation electrification will spur demand for raw materials has led governments to change the rules for miners operating in their countries.
The San Felipe property is located 55 kilometres from the company's Mercedes mine in Sonora.